Mukherjee, speaking at an industrial event in Mumbai, added banks would have to raise additional capital to meet requirements for Basel III global banking rules.

Indian economy is likely to grow by 7.6 percent in fiscal 2012/13, up from 6.9 percent in the current year, which is the lowest rate recorded in nearly a decade excluding the global financial crisis in 2008, Mukherjee said last month.

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India's main public health programmes, aimed at millions of rural poor, have been in disarray for months because the government changed the way that over $1.3 billion in funds were distributed, according to data and letters seen by Reuters. Full Article | Graphic: India's health funding